MongoDB Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
MongoDB Inc stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The MongoDB Inc stock price fell by -1.38% on the last day (Tuesday, 2nd Jul 2024) from $263.51 to $259.88. During the last trading day the stock fluctuated 4.07% from a day low at $259.43 to a day high of $269.99. The price has risen in 7 of the last 10 days and is up by 16.19% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -705 thousand shares and in total, 2 million shares were bought and sold for approximately $428.10 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $260.89 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -38.37% during the next 3 months and, with a 90% probability hold a price between $115.10 and $160.80 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MDB Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The MongoDB Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $278.28. On a fall, the stock will find some support from the short-term average at $245.51. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -1.38%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for MongoDB Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $236.06 and $234.61. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, MongoDB Inc finds support just below today's level at $236.06. If this is broken, then the next support from accumulated volume will be at $234.61 and $232.15.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $10.56 between high and low, or 4.07%. For the last week, the stock has had daily average volatility of 4.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MDB) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MongoDB Inc to open at $263.10, and during the day (based on 14 day Average True Range), to move between $247.87 and $271.89, which gives a possible trading interval of +/-$12.01 (+/-4.62%) up or down from last closing price. If MongoDB Inc takes out the full calculated possible swing range there will be an estimated 9.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $263.51 (1.40%) than the support at $236.06 (9.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is MongoDB Inc stock A Buy?
MongoDB Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.580 Sell Candidate Downgraded
Predicted Opening Price for MongoDB Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $263.10 ( 1.24%) | $259.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MDB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 273.66 | 5.30% |
| R2 | 269.63 | 3.75% |
| R1 | 267.13 | 2.79% |
| Price | 259.88 | |
| S1 | 259.07 | -0.313% |
| S2 | 256.57 | -1.27% |
| S3 | 252.54 | -2.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 310.00 | 19.29% |
| R1 | 263.51 | 1.40% |
| Price | 259.88 | |
| S1 | 236.06 | -9.17% |
| S2 | 234.61 | -9.72% |
| S3 | 232.15 | -10.67% |
FAQ
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